End of Recession Integrated Business Planning

The immediate response to surviving an economic downturn involves battening down the hatches and simply weathering the impending storm, cutting whatever is necessary to make it through the chaos. Marketing usually falls to the wayside, workers are cut, and prime opportunities to position your company as a customer service or market leader pass by unnoticed.

You may be hearing some of the most promising news that’s come along in months, however. Yes, the bleak outlook that companies had just a few months ago is transforming into a positive, though cautious, attitude. While economic experts have noted a five percent growth in the economy, your segment may not fall within one of these industries. Regardless of whether your industry is included or not, Integrated Business Planning or Sales and Operations Planning (S&OP) remains a necessity not only to surviving an economic downturn but also succeeding, both now and in the future.

One of the few perks of a recession is that it eliminates under-performing players, practically wiping the slate clean for your company, helping it to gain a better foothold in the market, and effectively evaluate business initiatives and goals. This downtime is key to winning customers and ensuring you have systems robust enough to weather any other potential storm along the way. With a well-positioned Integrated Business Planning, or Sales and Operations Planning (S&OP) process in place, flare-ups can be dealt with immediately, and issues can be managed without constant monitoring. Not only are short-term solutions presented, but long-term tools for surviving another economic downturn are addressed as well.

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Catering Company Business Plans – Why You Need One for Your Catering Startup

Are you wondering if you really need a business plan for your catering business? Perhaps you are thinking that as you only plan on starting a relatively small business it won’t really be necessary. Many people think like this and, of course, many people end up failing in their first year of business.

We highly recommend that you avoid becoming yet another business that underestimated costs or found that the market wasn’t ready for what they had to offer. Below we have outlined ten reasons why you must prepare a catering company business plan. We explain how if you do take the time to prepare a plan you will be increasing your chances of being successful with your catering startup.

1) Start in the Right Direction

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Business Plan – A Better Idea

Pick up almost any document on starting a business and you’ll be advised that you should promptly undertake the creation of a business plan. I am a big fan of business planning but here I’ll disagree. A better idea is to complete a feasibility study. A feasibility study and a business plan share a lot in common but the feasibility study is much shorter and can be completed in less time than a full business plan.

The whole point of the feasibility study is to determine if the business concept is feasible. There is no need to go to all of the detail required by a business plan if a general testing of market numbers indicates the idea will not work.

It is alright to use educated guesses for the numbers. You can increase accuracy and detail in the business plan to follow if your initial study indicates it is warranted. A good feasibility study should answer at least the following questions:

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